Bhopal, Feb 25 (UNI) Constrained by financial limitations, the Budget 2007-08 to be presented in the Madhya Pradesh Legislative Assembly is likely to focus on social sector and implementing public welfare schemes.
In his fourth consecutive Budget to be presented on February 26, Finance Minister Raghavji may announce measures for increasing facilities in the social sector besides public welfare schemes instead of long-term schemes.
Senior economist R S Tiwari said the Finance Minister could be praised for not incurring expenditure beyond prescribed limits and doing work in areas of improving basic facilities such as roads, water and power.
He said Mr Raghavji could be granted bonus points for presenting revenue surplus budgets in the last two budgets despite financial constraints.
''However, a major challenge remains that no roadmap has been prepared for long-term development of the state. Madhya Pradesh is quite behind in terms of average national income. No progress is being achieved in this regard rather we are falling behind,'' he said.
Dr Tiwari said Mr Raghavji's hands were tied due to lack of financial resources and emerging out of financial constraints would be a big challenge before him.
According to another economist, relief could be expected in the sphere of social infrastructure but the Finance Minister could not take too much liberties even in this regard.
He said it was possible that the state government would be forced to heavily rely on centrally-funded schemes for road, irrigation and power sectors.
Besides, Mr Raghavji's hand had been tied with regards to taxation because of implementation of the Value Added Tax (VAT) system.
Under such circumstances, welfare schemes related to employees, education, health and tribals could be important parts of the budget, he added.
UNI
In his fourth consecutive Budget to be presented on February 26, Finance Minister Raghavji may announce measures for increasing facilities in the social sector besides public welfare schemes instead of long-term schemes.
Senior economist R S Tiwari said the Finance Minister could be praised for not incurring expenditure beyond prescribed limits and doing work in areas of improving basic facilities such as roads, water and power.
He said Mr Raghavji could be granted bonus points for presenting revenue surplus budgets in the last two budgets despite financial constraints.
''However, a major challenge remains that no roadmap has been prepared for long-term development of the state. Madhya Pradesh is quite behind in terms of average national income. No progress is being achieved in this regard rather we are falling behind,'' he said.
Dr Tiwari said Mr Raghavji's hands were tied due to lack of financial resources and emerging out of financial constraints would be a big challenge before him.
According to another economist, relief could be expected in the sphere of social infrastructure but the Finance Minister could not take too much liberties even in this regard.
He said it was possible that the state government would be forced to heavily rely on centrally-funded schemes for road, irrigation and power sectors.
Besides, Mr Raghavji's hand had been tied with regards to taxation because of implementation of the Value Added Tax (VAT) system.
Under such circumstances, welfare schemes related to employees, education, health and tribals could be important parts of the budget, he added.
UNI
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